News

The beleaguered Wall Street bank Goldman Sachs boasted that it was making tens of millions of dollars of profits daily by betting against its own clients' investments, according to internal emails released by a US senator.

Invesco Perpetual has appointed industry veteran Nick Mustoe as its new chief investment officer, replacing Bob Yerbury.

George Osborne says a Tory Government would create an Economic Crime Agency to tackle white-collar crime and bin institutions like the SFO.

COLLINGS' CORNER

HSBC is to wind up its $100m listed Global Absolute fund of hedge funds following a vote by shareholders.

The Ignis-managed £979m UK Commercial Property trust is trying to merge with F&C Commercial Property trust to create one of the biggest vehicles in the sector.

Greece has sent a formal request for its 45bn euro EU-IMF debt rescue package to be activated as its financial predicament worsens.

Royal London Asset Management (RLAM) will convert six unit trusts into Oeics later this month in the last of a series of fund conversions.

Martin Currie has poached Swip's head of global emerging market equities Kim Catechis and investment director Alistair Reynolds.

UK GDP grew by 0.2% in the first quarter of 2010, lagging the 0.4% growth rate widely expected.